FLRG vs. QDEF ETF Comparison

Comparison of Fidelity U.S. Multifactor ETF (FLRG) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

FLRG

Fidelity U.S. Multifactor ETF

FLRG Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Multifactor Index?. The fund normally invests at least 80% of its assets in securities included in the Fidelity U.S. Multifactor Index?. The Fidelity U.S. Multifactor Index? is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with attractive valuations, high quality profiles, positive momentum signals, and lower volatility than the broader market.

Grade (RS Rating)

Last Trade

$35.37

Average Daily Volume

51,658

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

QDEF

FlexShares Quality Dividend Defensive Index Fund

QDEF Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Quality Dividend Defensive IndexSM. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index. The underlying index is designed to provide exposure to a high-quality, income-oriented portfolio of U.S. equity securities, with an emphasis on long-term capital growth and a targeted overall volatility that is lower than that of the Northern Trust 1250 IndexSM. It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$72.79

Average Daily Volume

6,852

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	FLRG	QDEF
30 Days	3.91%	1.58%
60 Days	5.11%	2.63%
90 Days	6.17%	4.66%
12 Months	32.36%	30.49%

37 Overlapping Holdings

Symbol	Grade	Weight in FLRG	Weight in QDEF	Overlap
ABBV	D	1.29%	2.6%	1.29%
ADP	B	1.17%	1.13%	1.13%
AVGO	D	1.93%	0.88%	0.88%
CI	F	0.83%	0.83%	0.83%
DELL	C	0.54%	0.46%	0.46%
DOX	D	0.47%	0.48%	0.47%
EA	A	0.17%	0.6%	0.17%
GEN	B	0.51%	0.59%	0.51%
GOOGL	C	3.46%	1.36%	1.36%
HD	A	1.62%	3.07%	1.62%
HRB	D	0.87%	0.45%	0.45%
IBM	C	0.9%	1.7%	0.9%
JNJ	D	1.35%	2.93%	1.35%
KLAC	D	0.65%	0.79%	0.65%
KMB	D	0.75%	0.51%	0.51%
LMT	D	1.2%	1.05%	1.05%
MA	C	1.64%	0.23%	0.23%
MCK	B	0.6%	0.71%	0.6%
META	D	2.47%	2.76%	2.47%
MO	A	0.82%	0.86%	0.82%
MSFT	F	6.44%	4.97%	4.97%
MSI	B	0.64%	0.74%	0.64%
NVDA	C	6.08%	6.0%	6.0%
OHI	C	0.87%	0.53%	0.53%
PAYX	C	1.04%	0.63%	0.63%
PG	A	1.43%	2.83%	1.43%
PM	B	1.01%	1.65%	1.01%
PSA	D	1.04%	0.59%	0.59%
QCOM	F	0.81%	1.65%	0.81%
RDN	C	0.81%	0.48%	0.48%
SWKS	F	0.43%	0.39%	0.39%
T	A	0.41%	0.77%	0.41%
TMUS	B	0.31%	1.14%	0.31%
V	A	1.66%	0.38%	0.38%
VRSK	A	1.0%	0.57%	0.57%
VZ	C	0.47%	0.65%	0.47%
WSM	B	0.86%	0.41%	0.41%

FLRG Overweight 64 Positions Relative to QDEF

Symbol	Grade	Weight
LLY	F	1.98%
VST	B	1.76%
MCD	D	1.28%
PGR	A	1.25%
BKNG	A	1.15%
NFG	A	1.12%
PCAR	B	1.03%
ALSN	B	1.02%
ACGL	D	1.02%
MLI	C	1.0%
BCC	B	0.97%
SNA	A	0.97%
HIG	B	0.95%
NVR	D	0.94%
CF	B	0.91%
LEN	D	0.91%
ORLY	B	0.91%
PHM	D	0.91%
AMGN	D	0.91%
DTM	B	0.9%
EG	C	0.9%
JXN	C	0.89%
CRBG	B	0.88%
VICI	C	0.88%
SYF	B	0.88%
MTG	C	0.87%
AZO	C	0.87%
ESNT	D	0.87%
RGA	A	0.83%
CTRA	B	0.83%
NUE	C	0.82%
CL	D	0.82%
STLD	B	0.81%
VLO	C	0.81%
REGN	F	0.8%
VRTX	F	0.79%
AMAT	F	0.77%
BRBR	A	0.77%
UTHR	C	0.7%
NFLX	A	0.69%
ANET	C	0.68%
CNC	D	0.67%
CRWD	B	0.67%
CHRD	D	0.67%
MOH	F	0.65%
FICO	B	0.63%
RPRX	D	0.63%
LRCX	F	0.63%
APH	A	0.61%
CDNS	B	0.6%
ZM	B	0.56%
NXPI	D	0.55%
GDDY	A	0.53%
CTSH	B	0.52%
DBX	B	0.5%
AKAM	D	0.5%
ACIW	B	0.5%
NTAP	C	0.49%
CRUS	D	0.47%
CVLT	B	0.47%
DLB	B	0.45%
QLYS	C	0.42%
CMCSA	B	0.41%
FOXA	B	0.14%

FLRG Underweight 86 Positions Relative to QDEF

Symbol	Grade	Weight
AAPL	C	-6.07%
MRK	F	-2.25%
INTU	C	-1.29%
GOOG	C	-1.1%
GILD	C	-1.03%
TJX	A	-0.99%
SBUX	A	-0.98%
AMT	D	-0.82%
DUK	C	-0.77%
ITW	B	-0.74%
JPM	A	-0.73%
CME	A	-0.71%
BK	A	-0.67%
MMM	D	-0.66%
UNM	A	-0.65%
KO	D	-0.65%
EME	C	-0.64%
BWXT	B	-0.64%
UMBF	B	-0.61%
CSCO	B	-0.61%
FIS	C	-0.6%
AFL	B	-0.6%
CFR	B	-0.6%
AIZ	A	-0.58%
WTW	B	-0.58%
FAST	B	-0.58%
VIRT	B	-0.57%
CSWI	A	-0.57%
COR	B	-0.57%
LDOS	C	-0.57%
D	C	-0.56%
WDFC	B	-0.55%
PPL	B	-0.55%
ORI	A	-0.54%
ESS	B	-0.54%
RMD	C	-0.54%
K	A	-0.53%
CSL	C	-0.53%
MET	A	-0.53%
EQR	B	-0.53%
MAA	B	-0.53%
PNW	B	-0.52%
IRDM	D	-0.52%
CPT	B	-0.51%
OTIS	C	-0.51%
XOM	B	-0.5%
OMF	A	-0.5%
LSTR	D	-0.49%
ED	D	-0.49%
AVY	D	-0.48%
BPOP	B	-0.48%
LOW	D	-0.47%
NSA	D	-0.47%
OGE	B	-0.47%
IPG	D	-0.46%
BMY	B	-0.45%
GIS	D	-0.45%
VRT	B	-0.45%
WU	D	-0.43%
EXPD	D	-0.42%
SAIC	F	-0.41%
DPZ	C	-0.41%
CUBE	D	-0.4%
EVRG	A	-0.4%
EBAY	D	-0.4%
EXC	C	-0.39%
CHE	D	-0.39%
MSM	C	-0.37%
BSY	D	-0.37%
STNG	F	-0.36%
STWD	C	-0.32%
NEP	F	-0.32%
WEC	A	-0.28%
PEG	A	-0.26%
COST	B	-0.24%
MAS	D	-0.23%
NNN	D	-0.21%
AVB	B	-0.18%
CAH	B	-0.17%
SCCO	F	-0.16%
BAH	F	-0.12%
DDS	B	-0.12%
WMT	A	-0.12%
ROL	B	-0.12%
ZTS	D	-0.11%
BAC	A	-0.02%